The World Bank and The Rockefeller Foundation intend to collaborate, alongside a unique global community of partners, to accelerate an equitable energy transition in emerging and developing economies to: (i) avoid and avert over three billion tons of greenhouse gas emissions, and (ii) extend clean, reliable, productive-use energy for up to 1 billion underserved people, creating green jobs and generating inclusive economic growth. The focus will be to identify and deliver transformational projects that will accelerate and scale an equitable energy transition across the emerging and developing world.
The Rockefeller Foundation intends to announce the launch of the Global Energy Alliance for People and the Planet (GEAPP) at COP26, alongside other interested parties, focused on the goals above.
The World Bank and The Rockefeller Foundation wish to strengthen their partnership in strategic areas and give a renewed impetus to their collaboration. To that end, the World Bank Group and The Rockefeller Foundation intend to further define the specific modalities of their partnership and collaboration, including identifying countries and projects with high impact opportunities.
The Rockefeller Foundation intends to make an initial contribution of up to $50 million to the World Bank’s Energy Sector Management Assistance Program (ESMAP), to help design and enable high impact projects and engagements that could facilitate up to $500 million in high impact climate projects with GHG reduction, energy access and climate resilience goals.